Barclays Trims Cenovus Energy (CVE) Target Price to C$16.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective trimmed by Barclays from C$17.00 to C$16.00 in a research note released on Thursday morning.

A number of other equities research analysts have also weighed in on CVE. Raymond James boosted their price objective on shares of Cenovus Energy from C$16.00 to C$17.00 in a report on Friday, October 5th. CIBC reaffirmed an outperform rating and issued a C$17.00 price target on shares of Cenovus Energy in a report on Friday, October 5th. Morgan Stanley lowered their price target on shares of Cenovus Energy from C$18.00 to C$17.00 in a report on Sunday, October 14th. Canaccord Genuity lowered their price target on shares of Cenovus Energy from C$15.00 to C$14.00 in a report on Tuesday, October 16th. Finally, TD Securities raised shares of Cenovus Energy from a hold rating to a buy rating and set a C$14.00 price target on the stock in a report on Monday, October 22nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of C$15.43.

Shares of CVE stock traded down C$0.10 during trading hours on Thursday, reaching C$10.75. 2,928,827 shares of the company’s stock were exchanged, compared to its average volume of 3,639,707. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 52.75. Cenovus Energy has a fifty-two week low of C$8.74 and a fifty-two week high of C$14.84.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Wednesday, October 31st. The company reported C($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.22 by C($0.42). The firm had revenue of C$6.14 billion for the quarter, compared to analysts’ expectations of C$5.77 billion. As a group, research analysts forecast that Cenovus Energy will post 0.88 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Shareholders of record on Friday, December 14th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.86%. Cenovus Energy’s dividend payout ratio (DPR) is currently -35.46%.

In related news, insider Jonathan Michael Mckenzie purchased 25,000 shares of Cenovus Energy stock in a transaction that occurred on Wednesday, November 21st. The stock was purchased at an average price of C$10.23 per share, for a total transaction of C$255,750.00. Also, Director Richard Joseph Marcogliese purchased 5,000 shares of Cenovus Energy stock in a transaction that occurred on Monday, November 26th. The shares were bought at an average price of C$7.10 per share, with a total value of C$35,500.00. In the last quarter, insiders acquired 37,121 shares of company stock valued at $364,051.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.

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